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About Ratnaveer Precision Engineering Ltd. IPO
Gujarat-based Ratnaveer Precision Engineering Ltd. is an engineering company engaged in manufacturing stainless steel products like finished sheets, washers, solar roofing hooks, pipes and tubes. It is one of the few companies that work in the backward integration model. The company has 4 manufacturing units and units I, II, and IV are engaged in backward integration, whereas unit III is used for melting steel scraps in making steel ingots.
The company manufactures products to be used in automotive, solar energy, wind power, oil & gas, pharmaceuticals, instrumentations, etc. Its product portfolio includes 2500 SKUs of washers.
Ratnaveer Precision Engineering Ltd. IPO Objective
The company proposes to utilise the net proceeds from the offer towards the following objects.
- To meet the working capital requirements.
- General corporate purposes.
Should you invest in Ratnaveer Precision Engineering Ltd.?
Here are the top reasons to consider before investing in Ratnaveer Precision Engineering Ltd. IPO.
- The company offers a diversified product portfolio, including 2500 SKUs in stainless steel washers.
- Ratnaveer Precision exports globally to the UK, Germany, Spain, Netherlands etc. and caters to a well-diversified customer base to reduce dependency on any single customer.
- Demand for stainless steel is higher than traditional steel for enhanced corrosion resistance properties. The company produces value-added stainless steel products.
- The company has recorded steady growth in its revenue and profits.
Competitive Peers
There is no comparable listed company that engages in the same line of business as Ratnaveer Precision Engineering Ltd.
Ratnaveer Precision Engineering Ltd. Noteworthy highlights
- Between 2011 and 2022, the company’s revenue growth was 14.73% CAGR.
- The growth in profit after tax was 16.40%, from Rs. 15.42 million in Fiscal 2011 to Rs. 95.35 million in Fiscal 2022.
IPO Financials
| Particulars | Year ending on March 31, 2022 | Year ending on March 31, 2021 | Year ending on March 31, 2020 |
|---|---|---|---|
| Revenue from Operations | 4,269.38 | 3,596.64 | 2,969.20 |
| Profit After Tax (PAT) | 95.37 | 54.59 | 71.95 |
| PAT Margin | 2.23% | 1.52% | 2.42% |
| EBITDA | 291.00 | 243.00 | 266.00 |
| EBITDA Margin | 6.76% | 6.81% | 9.82% |
| EPS (Basic) | 23.43 | 13.41 | 17.68 |
| ROE | 15.56% | 10.15% | 15.02% |
Know before investing
Strengths
3
The company operates on a synergetic, backwards-integrated business model
Ratnaveer Precision has R&D unit to help it develop tools and molds for its products.
From manufacturing a single product it has expanded to become a multi-product company.
Risks
3
The company doesn’t enter into long-term agreements with its suppliers, which might result in disruption in raw material supply.
The steel industry is subject to market volatility.
The promoters are involved in some legal proceedings, which might impact the company's performance in the future.
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The Ratnaveer Precision Engineering Ltd. IPO is a combination of fresh issue and offer-for-sale equities.
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